How to sell an inherited property on the Costa Brava?

One of the terrible consequences of the pandemic are the thousands of deaths in our country that already exceed 50.000. A fact that, in the real estate world, is translating into a significant increase in the number of inherited homes that are being put up for sale.

Everything you need to know to sell an inherited property on the Costa Brava

The latest data registered by the National Institute of Statistics shows that, in Catalonia, the number of homes transmitted by inheritance in October 2020 was 3.034, 300 more compared to the same month of the previous year. 

But you have asked yourself, what do you have to do to be able to sell a property that we have just inherited?  You will learn, that some prior procedures are necessary in order to complete the transaction

These are the four essential steps before selling an inherited property:

Step 1: Acceptance of the Inheritance

The first thing to do is accept the assets that the deceased person has bequested. To do so, it is necessary to go to the notary and sign the Inheritance Acceptance Deed.

What documents are necessary for this? The death certificate and the certificate of last wills.

Step 2. Inheritance and Gift Tax

Once the inheritance is accepted, the Inheritance and Donations Tax will have to be paid within a maximum period of 6 months, from the moment of death. Although there are ways to extend it.

This amount varies depending on the Autonomous Community where the owner had residence.

This proof of payment will be essential to carry out the next step.

Step 3. Registration in the Property Registry

It is time to go to the Property Registry now to register the Inheritance Acceptance Deed.

It will be at this time when you will be recognized as the legitimate owner of the inherited property and you will already have the power to sell it.

Step 4. Municipal Plusvalia tax

Finally, you must take charge of the municipal capital gain tax ( plusvalia) . A tax levied on the increase in the value of urban land and that corresponds to the City Council of each municipality.

Now, you have everything ready to be able to sell your inherited house whenever you want. If you are really sure about selling, we recommend doing it as soon as possible. Since if you sell the property in the same year that you inherited it, you will save yourself having to pay the plusvalia again the following year as a seller.

One of the keys to process the sale of an inherited property with total effectiveness and without forgetting any legal issue, is to get the advice of professionals.

If you would like us to take care of selling an inherited house on the Costa Brava, do not hesitate to contact our real estate agency. We have been experts in the area and in this type of transactions for more than 20 years.

Trusting Porfinca is to ensure a safe, transparent transaction and in the shortest possible time.